The surrender period for an annuity refers to the timeframe during which an investor may face penalties for withdrawing funds from the annuity. Typically, this period lasts for several years, often ranging from five to ten years, depending on the specific annuity contract. During the surrender period, if the owner decides to withdraw a significant portion or the entirety of the invested funds, they may incur surrender charges. These charges are intended to help the insurance company recoup some of the costs associated with issuing the annuity and managing the investment.
After the surrender period expires, the investor can withdraw funds without facing these penalties. However, it is important to note that taxable withdrawals may still apply, detailed tax implications can vary depending on the type of annuity and other factors. Individuals interested in annuities should carefully review the contract provisions to understand the surrender period and any associated fees. For more detailed information, it may be helpful to visit the official website of Prudential Annuities, where you can find additional resources and tools relevant to your inquiry.
If you need to call Prudential - Annuity customer service, now that you have the answers that you needed, click the button below. You can either call them on your phone or use our free AI-powered phone to dial for you, get a rep for you, and more.
Find a list of many popular Prudential - Annuity questions with answers or step by step guides on our FAQ page below. Or ask a whole new question and get an answer right away.